According to a recent performance analysis of IPOs this year, researchers found that the stocks of enterprise software and solution providers performed better than the stocks of several Internet companies. Facebook leads the disappointing wave of Internet IPOs, as its stock crashed soon after listing. But among enterprise IPOs, there are several strong performers. In the data studied, the analyst found that enterprise IPOs listed this year resulted in an average stock improvement of 95% by October 2012. Here is a quick review of automated network control solutions provider, Infoblox (NYSE:BLOX), which recently announced its first quarter results.

Infoblox’s Financials
After missing market outlook expectations last quarter, Infoblox managed to surpass the Street’s projections during its recently reported first quarter results. Revenues grew 26% over the year to $49.5 million with EPS of $0.06. Analysts had projected a break-even quarter on revenues of $46.5 million.

By segment, revenues from products and licenses grew 12% over the quarter and 19% over the year to $27.10 million. Services revenues grew 7% sequentially and 24% over the year to $22.41 million.

Revenues from the Americas grew 30% over the year and accounted for 66% of the quarter’s revenues. EMEA revenues grew 33% and contributed 24% of revenues. Revenues from the rest of the world fell 5%.

Infoblox expects to end the current quarter with revenues of $50 million-$51.5 million and EPS of $0.03-$0.04, which would surpass market projections of $48.3 million in revenues and EPS of $0.01. For the current fiscal year, Infoblox projects revenues of $204 million-$208 million with EPS of $0.17-$0.21. The market was expecting revenues of $199 million for fiscal year 2013, with EPS of $0.06.

Infoblox’s Expanding Product Offering
Infoblox continued to work on enhancing its product offerings. As part of its new product line-up, over the next quarters it will be introducing solutions that will help cater to the security market. The company is developing tools that will leverage its capabilities in the DNS space to address DNS-based security breaches. It believes its products will be able to offer “unique protection capabilities” unmatched by traditional security providers. Infoblox did not divulge more details about the product.

Earlier this week the company released IPAM Express, a free automated and unified IP address management (IPAM) software that will assist organizations with managing tasks surrounding IP address management. Gartner estimates that IPAM is the biggest driver in more than 60% of DNS, DHCP, and IPAM projects. Infoblox’s product is aimed at organizations that are transitioning from IPv4 to IPv6. The new software does away with spreadsheet-based management of IPs, enables management and reporting of IP addresses from one console, identifies used, unused, and conflicting addresses, and visually maps network allocation and address availability. Gartner estimates that nearly 75% organizations still manage their IP address on spreadsheets. Surely Infoblox’s product has good potential.

The stock is trading at $18.21 with a market capitalization of $856.29 million. It touched a high of $24.15 earlier last quarter.